Re: Beneficial Interest in Trust - Posted by Jim
Posted by Jim on February 27, 2001 at 14:10:09:
As far as they or anyone else is concerned (There has not been a change in the beneficial interest)! Only you and the seller realize this so therefore you just tell them that there has not been a change in the beneficial interest.
Telling them or anyone else would defeat the purpose of the Land Trust they created thus causing a violation to the DOS clause contained in the note you are taking subject to.
That assignment of beneficial interest is between you and the seller.
Hope this helps